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Basis of Presentation and Our Divisions (Tables) | 3 Months Ended
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Mar. 23, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Summary of Segment Reporting Information By Net Revenue | Net revenue of each division is as follows:
|  |  | 12 Weeks Ended
|  |  |  |  | 3/23/2024 |  | 3/25/2023
FLNA |  |  |  |  | $ | 5,676 |  |  | $ | 5,583 |
QFNA |  |  |  |  | 593 |  |  | 777 |
PBNA |  |  |  |  | 5,874 |  |  | 5,798 |
LatAm |  |  |  |  | 2,067 |  |  | 1,777 |
Europe |  |  |  |  | 1,936 |  |  | 1,886 |
AMESA |  |  |  |  | 1,040 |  |  | 1,019 |
APAC |  |  |  |  | 1,064 |  |  | 1,006 |
Total |  |  |  |  | $ | 18,250 |  |  | $ | 17,846 |
Summary of Segment Reporting Information by Percentage of Disaggregated Net Revenue | Our primary performance obligation is the distribution and sales of beverage and convenient food products to our customers. The following table reflects the percentage of net revenue generated between our beverage business and our convenient food business for each of our international divisions, as well as our consolidated net revenue:
| 12 Weeks Ended
| 3/23/2024 |  | 3/25/2023
| Beverages(a) |  | Convenient Foods |  | Beverages(a) |  | Convenient Foods
LatAm | 9 | % |  | 91 | % |  | 9 | % |  | 91 | %
Europe | 45 | % |  | 55 | % |  | 46 | % |  | 54 | %
AMESA | 32 | % |  | 68 | % |  | 31 | % |  | 69 | %
APAC | 15 | % |  | 85 | % |  | 15 | % |  | 85 | %
PepsiCo | 41 | % |  | 59 | % |  | 41 | % |  | 59 | %
(a)Beverage revenue from company-owned bottlers, which primarily includes our consolidated bottling operations in our PBNA and Europe divisions, was 35% and 36% of our consolidated net revenue in the 12 weeks ended March 23, 2024 and March 25, 2023, respectively. Generally, our finished goods beverage operations produce higher net revenue but lower operating margin as compared to concentrate sold to authorized bottling partners for the manufacture of finished goods beverages.
Summary of Segment Reporting Information by Operating Profit | Operating profit/(loss) of each division is as follows:
|  |  | 12 Weeks Ended
|  |  |  |  | 3/23/2024 |  | 3/25/2023
FLNA |  |  |  |  | $ | 1,554 |  |  | $ | 1,599 |
QFNA (a) |  |  |  |  | (49) |  |  | 188 |
PBNA |  |  |  |  | 510 |  |  | 483 |
LatAm |  |  |  |  | 485 |  |  | 364 |
Europe |  |  |  |  | 202 |  |  | 71 |
AMESA |  |  |  |  | 152 |  |  | 168 |
APAC |  |  |  |  | 233 |  |  | 227 |
Total divisions |  |  |  |  | 3,087 |  |  | 3,100 |
Corporate unallocated expenses |  |  |  |  | (370) |  |  | (471) |
Total |  |  |  |  | $ | 2,717 |  |  | $ | 2,629 |
(a)In the 12 weeks ended March 23, 2024, operating loss included a pre-tax charge of $167 million ($128 million after-tax or $0.09 per share) in cost of sales for property, plant and equipment write-offs, employee severance costs and other costs associated with a previously announced voluntary recall of certain bars and cereals in our QFNA division (Quaker Recall).

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